I think the main issue is advertising. Always has been.
How many people with a decent grasp of English, interested in roleplaying and the sci-fi setting, and willing to play a pretty outdated game that fits those criteria are there in the world? Tens, maybe hundreds of thousands surely.
There's no really easy way to reach those people I guess, but that's what would really be needed.
And as for the declining community we already have: a proper update, that advances the storyline and doesn't break a ton of things, and addresses issues that have embarrassingly persisted for years now (terribly balanced ships, mining, etc.)